The Ministry of Finance amends Income Tax Rules with Notification 112/2024, streamlining tax deduction processes and compliance requirements.
The Income Tax Amendment Rules, effective October 1, 2024, revise Form No. 10A and 10AB for registration under sections 12A and 80G.
CBIC amends customs tariff values for crude palm oil, gold, silver, and areca nuts effective from October 16, 2024. Read the latest updates on Notification No. 66/2024-Customs.
Supreme Court dismisses Income Tax Depts plea, setting aside the ₹5 lakh cost imposed by the Allahabad HC for incorrect reassessment actions.
ITAT Bangalore condones 140-day delay in filing an appeal due to incorrect advice from a tax consultant, allowing the case to be heard on merit.
Madras HC dismisses Revenues appeal challenging ITAT’s stay order, stating the stay had expired, leaving substantial questions of law open.
Madras High Court held that passing of ex-parte order without providing an opportunity of being hearing is against the principles of natural justice. Accordingly, the impugned order is set aside.
Delhi High Court held that reopening of assessment u/s. 148 of the Income Tax Act unsustainable as PCIT already decided the matter in favour of the assessee while invoking revisionary powers u/s. 263 of the Income Tax Act. According, reassessment action quashed.
The respondent-Society had applied for registration pleading that it was running a private Industrial Training Institute imparting vocational to the students, and the same was duly affiliated and regulated by National Council for Vocational Training (NCVT).
ITAT Bangalore allows Vikas Co-operative’s appeal, stating addition under Section 69A cannot be made solely on the basis of not accepting demonetized currency.
